February 13
3:45 am Mar 17, 2012

Moody's cuts ratings, outlooks on 9 in EU

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  • Moody's cuts ratings, outlooks on 9 in EU

    thewall.com.au thewall.com.au | 12:02 am Feb 14, 2012

    Moody's has downgraded the debt ratings of Italy, Spain and Portugal and placed negative outlooks on France, Britain and Austria.

    Ratings were also cut for Slovenia, Slovakia and Malta, with Moody's saying all nine were more susceptible to increasing financial and macroeconomic risks from the euro area crisis.

    Moody's said on Monday that Europe's weakening economic prospects "threaten the implementation of domestic austerity programs and the structural reforms that are needed to promote competitiveness".

    The agency questioned the implementation of institutional reform in the euro area and whether adequate resources will be pulled together to deal with the crisis.

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